Having a convincing brand for your business is one step that many people overlook.
With all the excitement that comes in developing a business, this crucial but most important step may be side stepped and often forgotten.
My blog is a perfect example of this.
I got too caught up with delivering content and had neglected to properly establish a brand. I believe this is the reason why after 3 years of blogging, Million Endeavour did not make it very far.
As mentioned in the previous post, I will now be taking my blog in a different direction. Instead of focusing on the broad niche of personal finance, I will now focus on the business aspect of it. I find this transition to be fitting especially because I am ready to turn my blog into a business.
A memorable logo and name
To start off, the brand of your company will require a name and a logo.
Both the name and logo will have to be memorable, interesting and recognizable. Something that is simple and unique will often do the trick. If both of these components are too complicated, most people will have a hard time remembering it.
For the longest time, my blog has gone without an attractive logo. It is definitely something that I will need to invest a little time and money on as I move forward.
Identifying a need and offer a solution
One thing to note is that branding your company is so much more than just a name and a logo.
To successfully brand your company, you will need to identify a need from potential customers and offer a solution to their problems. Without doing so, the customers may have no use or reason to be interested in your brand.
Once a need has been identified, it is important to convince the customers why your brand stands out from all the other brands in your niche and why they should come to you instead.
I’ve learned this the hard way as Million Endeavour was categorized into “just another personal finance blog”. There was nothing that stood out from the thousands of finance blogs out there and I have nothing different to offer the readers. This is a struggle that I have continued to experience and until I can figure this out, my blog will continue to plateau.
Focusing on one thing and then expand
Prior to this new direction, I was focused on being a personal finance generalist. I was trying to do a little bit of everything instead of focusing and mastering one thing. As a result, my content was amateurish at best and it was nothing that people did not already know.
Now that I am focusing on the business area of personal finance, I believe that as my knowledge in this area grows, I will be able to deliver more valuable content.
This is not to say that I shouldn’t venture into other areas of personal finance such as stocks or real estate, I am simply choosing to focus on mastering the business side right now.
Take Amazon for example. When the company first started, it was well known as a retailer for selling books. It is only until the company started to grow did it branch out to other products.
What do you think? Is it better to try to master one area of personal finance instead of trying to do a little bit of everything at the same time?
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